Springfield Exploration&Manufacturing and its companions on the West Cape Three Factors Block 2 – particularly, the Ghana Nationwide Petroleum Company (GNPC) and GNPC Exploration&Manufacturing Firm – have efficiently accomplished appraisal nicely take a look at exercise on the Afina discovery. Located offshore Ghana, the appraisal nicely revealed optimistic manufacturing flows, signaling elevated crude output for the nation.
The African Power Chamber (AEC) – serving because the voice of the African vitality sector – commends the proactive method by Springfield E&P to unlock new oil and fuel belongings in Ghana. The corporate has proven a powerful dedication to bringing new fields on-line and can play an necessary half in driving oil and fuel manufacturing within the nation. This monumental milestone cements Springfield’s place as a Ghanian producer, as the corporate represents the primary unbiased Ghanian and African vitality firm to function a deepwater asset within the nation.
The Afina appraisal exercise confirmed good reservoir productiveness, flowing at a most fee of 4,500 barrels of oil per day (bpd). In the meantime, a mini-drill stem take a look at confirmed the presence of fuel and condensates on the nicely, that includes an estimated stream fee potential of 12,000 bpd. The take a look at additional confirmed Springfield’s understanding of their geological and geophysical fashions on the nicely, demonstrating the corporate’s operational capability and solidifying their place as one of many prime African oil and fuel gamers.
In mild of this and different main achievements lately, Ghana has positioned itself as a globally aggressive oil market. Ghana has seen strong progress throughout its oil and fuel worth chain in latest months. Ongoing initiatives consolidating its place as a significant producer embrace the Tema LNG plant – located close to the capital metropolis of Accra –, which is about to start manufacturing by the top of the 12 months. The undertaking, which can be capable to produce 1.7 million tons of fuel per 12 months, can have the capability to import, retailer, regasify and ship LNG to off-takers within the better Accra space.
In the meantime, the Atuabo II fuel processing plant is on observe for manufacturing in 2025. Developed by Ghana Gasoline alongside three way partnership companions, the undertaking incorporates a capability of 150 million commonplace cubic ft of pure fuel per day and includes the event of a second processing plant on the Atuabo growth. With this growth, the plant has the potential to double its capability to 300 million commonplace cubic ft per day, producing LNG, butane, propane and pentane condensates.
Regardless of this robust undertaking portfolio, Ghana continues to supply vital alternatives for vitality and expertise firms. The nation, by means of its participation on the African Power Week (AEW): Put money into African Energies convention this 12 months, has proven a deliberate drive to draw international capital throughout its worth chain. In 2025, this drive will proceed because the nation’s funding alternatives are positioned on full show. Ghana has long-represented an necessary a part of the occasion, and in 2025, AEW: Put money into African Energies – going down September 29 to October 3, 2025 in Cape City – will proceed to advertise Ghanaian vitality alternatives whereas outlining undertaking updates and coverage reform.
“Ghana has constantly demonstrated its dedication to sustainable, long-term funding. Via market-oriented insurance policies, a sturdy undertaking pipeline and ongoing collaborations with buyers by way of platforms like AEW: Put money into African Energies, the nation has fostered vital financial progress. Wanting forward, Ghana’s continued successes within the oil and fuel trade will additional speed up its vitality sector growth, and the nation is poised to stay a key participant within the continent’s vitality house for a few years to return,” acknowledged AEC Government Chairman NJ Ayuk.
Distributed by APO Group on behalf of African Power Chamber.